Key Factors to Consider When Opening an E-Commerce Shop
In 2021, retail e-commerce sales amounted to 4.9 trillion US dollars globally and this figure is forecast to grow by 50%, reaching a total of 6.5 trillion US dollars by 2023 and 7.4 trillion US dollars by 2025. According to Nasdaq, by 2040, around 95% of all retail purchases will be made online, spelling the end of traditional retail. If you wish to take advantage of the e-commerce boom by opening an e-commerce shop and launching your own business, make sure you prioritize the following essentials to achieve optimal success. Identifying Your Niche If you choose the right niche and use data to drive your business decisions, your business can enjoy a 241% return on investment. Therefore, conducting research into a profitable niche is … Read more